facebook-page-view
Advertisement

Axiata Takes $362M Charge For Idea, Reports Q4 Loss

By Reuters

  • 23 Feb 2011

Malaysia's second-largest mobile phone operator Axiata Group Bhd reported a quarterly loss after it took a 1.1 billion ringgit ($362 million) charge for its investment in India's Idea Cellular Ltd.

Axiata reported a net loss of 367 million ringgit against a profit of 558.3 million ringgit a year earlier.

Full year net profit was at 1.8 billion ringgit, nearly a third lower than the 2.6 billion ringgit profit forecast of 21 analysts tracked by Thomson Reuters I/B/E/S.

Advertisement

Axiata, the only listed telecom stock in Malaysia that provides exposure to the region, was the best performing telecom stock in 2010.

Nineteen out of 27 analysts tracked by Thomson Reuters I/B/E/S have either a "Buy" or "Strong Buy" call on the stock.

Advertisement

Share article on

Advertisement
Advertisement